Five Things Which Will Add Value in 2015Posted on February 27, 2015 by
It’s hard to think of real estate as Vogue like trend-following asset, but buyers’ tastes in bricks and mortar change almost as frequently as their taste in clothes.
As investors we have to be mindful of those changes in taste. Knowing the true value of real estate is critical, trying do a deal without it and see. The guidance and data within REIAComps.com has consistently shown investors how to determine both solid acquisition value and after repair value which will get your property moved.
Back to the Five Things which add value, while classic styling will always be in, sellers of “Retail Flips”or those looking to fill “Rentals”should think about introducing ideal features to really make their investment property stand out. The following are the top five trending finishes which will add significant value or 2015.
1.) Neutrals, especially color
Bright colors made a minor splash in 2014, but neutrals are now firmly back in place. Think white and gray instead of beige and taupe for a pared down, ultra-modern feel. Limit color to small pops, but you may want to go beyond brightly colored throw pillows.
2.) Fusion styling
Combining old and new design ideas is a great way to achieve the fusion look that’s hot in 2015. If your furniture is traditional, introduce some sharp edges―glass, chrome or graphic wallpaper modernize a traditional scheme. In reverse, soften an industrial design with soft rugs, pillows and organic shapes. Salvaged wood adds punch to sleek, monochrome styling.
3.) Go green, most potential clients will like you more
Energy-efficient and water-saving appliances are big hits with homebuyers and renters trying to save money on their utility bills. If you are remodeling before a sale, don’t be afraid of a tankless water heater and introducing water-saving shower heads or high-efficiency light fixtures.
4.) Open-concept living, makes the space bigger
As a design concept, the open floor plan keeps growing and growing. Buyers are looking for spaces which allow them to mingle, socialize and chat with friends. If you remodel and only remove one wall in the house, definitely make it the kitchen. The bigger you can make your casual entertaining space, the better.
5.) Versatile design
Nothing has buyers pulling out their check books faster than a forever home. Any feature that is going to have functional value for many years to come will always have buyer appeal. Think kitchen islands, built-in closets and lots of storage. If your property is lacking these items, create the illusion by adding simple shelving units and racks which have multiple applications within the dwelling.
Use this knowledge about key improvements to maximize the value of your real estate projects and holdings while also determining the best acquisition value and after repair price.
The use of REIAComps.com to determine the best acquisition and ARV for every deal you look at is the best real estate decision you will ever make. Don’t for one moment let someone tell you the value of a deal. Let REIAComps.com show you for yourself.